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In the Hunt for Liquidity and a Revitalized Market, FDIC Becomes Latest Seller of Mortgage-Backed Securities
August 09, 2010
Mortgage-backed securities are among the things that helped create the financial crisis. But that’s not stopping the FDIC from packaging $500 million in single family residential mortgages from failed banks into MBS. The goal: help revitalize the securitization market while increasing its own...
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Indexed by: FDIC | Liquidity | Troubled Banks
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6 Ways Directors and Officers Can Get Ready for Potential FDIC Litigation
August 02, 2010
Understand your D&O insurance policies before the bank closes, suggests attorney Thomas Bieging, a partner with Bieging, Shapiro and Burrus in Denver. Find out whether the amount of your coverage is diminished by fees for defense of claims, he adds, and whether you can select your own counsel...
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Indexed by: FDIC | Legal | Troubled Banks
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FDIC Sues IndyMac Officers, Civil Demand Letters Widespread
August 02, 2010
Expect more lawsuits like the one the FDIC filed in July against four former IndyMac Bank officers for alleged “negligence and breach of fiduciary duties.” The FDIC confirms it actively is investigating former bank directors and officers at failed banks across the country, sending out...
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Indexed by: FDIC | Legal | Troubled Banks
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A Success Story: First Michigan Bank Raises Capital, Grows By More than $1 BIllion
July 26, 2010
It is possible to raise capital in today’s environment. Just ask David Provost, chairman, president and CEO of First Michigan Bank in Troy, Mich. He not only raised $200 million, but he helped turn his $100 million bank into a $1.7 billion institution with a single acquisition on April...
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Indexed by: Capital Adequacy | FDIC | Management
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FDIC Gains Regulatory Back-Up Powers
July 19, 2010
The FDIC will use off-site monitoring of Call Reports to decide whether it needs to sit in on exams of banks it doesn’t normally supervise, according to a new agreement among the regulators approved unanimously last week.
The agreement gives the FDIC the power to conduct special exams of...
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Indexed by: Enforcement/Exams | FDIC | Regulation
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FDIC Pushes for More Regulatory Back-up Powers
June 21, 2010
Even healthy banks not regulated by the FDIC should brace themselves for FDIC examiner visits in the future. That’s because the FDIC is lobbying to broaden its powers as a “back-up” regulator, the Bank Safety & Soundness Advisor has learned.
And with Congress about to pass a...
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Indexed by: Exams/Enforcement | FDIC | Regulation
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Call Report Analysis Leads to CAMELS Downgrades, Stepped-Up Enforcement
April 12, 2010
Examiners have begun downgrading banks’ CAMELS ratings based solely on their Call Reports, leading them to speed up the next onsite exam, warns attorney Daniel C. McKay II, a senior partner at Vedder Price’s banking group in Chicago and a former federal regulator.
He recently had...
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Indexed by: Capital Adequacy | Exams/Enforcement | FDIC
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Overwhelmed by Bank Failures, FDIC Weighs Use of Private Firms to Process, Sell Loans
June 14, 2009
Overwhelmed by the increasing number of bank failures, the FDIC began turning back to tools it last used in the 1980s. One idea: Using private firms to run the loan processing and asset disposition operations of failed banks, Dan Walker, FDIC's manager of Institution and Asset Sales, revealed in an exclusive interview with FinCri Advisor.
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Indexed by: FDIC
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